Petroleum Africa
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Thursday, October 27, 2016
Nigeria is looking for the investments agreed to in an MoU between the country and China to forward at a fast pace. According to Minister of State for Petroleum Resources, Dr Ibe Kachikwu, the agreement has been presented to Nigeria’s President Muhammadu Buhari and has been tabled before the Federal Executive Council (FEC).
In June during an investment road show in China, Nigeria signed a MoU with the Asian country that pledged billions in investment.
Kachikwu called on Chinese firm Norinco to fast track its investments in the country.
According to a statement from the Director of Press and Public Relations to the Minister, Idang Alibi, the Norinco’s team visited the Minister’s office as a follow-up to the event in China. “He has been given the go ahead to actualize the memorandum. It was on this basis that the Minister inaugurated a high-powered inter-ministerial implementation committee to spearhead the actualization of the terms of the MoU.”
Alibi said that the Minister requested that the Chinese firm make the process of accessing the money pledged to the Nigerian government, over $5 billion, accessible to authorities. “The nation is anxious that this money should be available for us in the 2017 national budget,” according to the statement.
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